Small firms have lost £785m to cyber criminals, according to a new report from the Federation of Small Businesses. The FSB said, on average, its members lost £4,000 each to online crime. This can have a devastating effect on some businesses, particularly in the current economic turmoil.

The FSB's report called on the government to launch a national awareness campaign for its Action Fraud service, a police website where businesses can report internet fraud. 31% of FSB members also said they want a more effective police response to fraud.

However, the government is slashing billions from its policing budget in the austerity drive to save cash. One top cop has warned that hundreds of specialist internet crime officers are at risk of losing their jobs.

James Brokenshire, Home Office minister for security, insisted the government is taking the right steps to tackle cyber crime.

Written and presented by Shane Croucher

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